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According to a post on the FDA's website, Biohaven Pharmaceutical's treatment of multiple system atrophy was granted orphan designation. Reference Link

BHVNBiohaven Pharmaceutical

$45.32

1.36 (3.09%)

02/01/19

PIPR

02/01/19NO CHANGEPIPROverweight

Amgen acquisition of Alexion could make a lot of sense, says Piper Jaffray

While most investors anticipate Amgen (AMGN) could be shopping for smaller, bolt-on deals amid increased investor and press speculation that it is now an active acquirer, a larger deal with more near-term accretion potential may make more sense, Piper Jaffray analyst Christopher Raymond tells investors in a research note partially titled "Go Big or Go Home?" He thinks a potential Amgen for Alexion Pharmaceuticals (ALXN) deal "could actually make a lot of sense." Even at levels approaching $200 per share for Alexion, Amgen "could make a strong argument for a business combination," says Raymond. Alexion closed yesterday up $1.64 to $122.96. The analyst admits that some "bolt-on deals have been bandied around" by investors that "arguably make sense" for Amgen, including Biohaven Pharmaceutical and Amarin (AMRN). However, none of these options on their own get Amgen "to where they need to be to address the growth challenges of the legacy franchises," Raymond argues. He thinks a better deal for the company may be Alexion, which would bring in a "long-tailed asset" with Soliris/Ultomiris, an area Amgen has already approached with its Soliris biosimilar effort. The analyst's math has the potential deal being accretive next year, growing to 20%-plus accretion by 2024 for Amgen, even at a takeout price approaching $200 per Alexion share. Raymond keeps Overweight ratings on both companies.

12/28/18

OPCO

12/28/18NO CHANGETarget $54OPCOOutperform

Biohaven price target lowered to $54 from $63 at Oppenheimer

Oppenheimer analyst Esther Rajavelu lowered her price target for Biohaven Pharmaceutical to $54 from $63 while maintaining an Outperform rating on the shares. The analyst updated her model to reflect the company's weighted average cost of capital as well as well as the impact of its $144M equity raise. Rajavelu continues to believe Biohaven's glutamate platform, with two late-stage assets, is "under-the-radar."

Biohaven Pharmaceutical this morning reported positive data from a 12-month safety study of 1,780 patients, which included regularly scheduled liver function tests, Piper Jaffray analyst Tyler Van Buren tells investors in a research note. The bottom line is that rimegepant now definitively appears to be a safe and well-tolerated treatment and that Biohaven has successfully engineered out the liver toxicity associated with the first generation oral calcitonin gene-related peptides, says the analyst. He adds rimegepant also demonstrated efficacy in prevention, which he thinks bodes well for the ongoing pivotal trial. Van Buren reiterates an Overweight rating on Biohaven Pharmaceutical with a $65 price target.

12/03/18

PIPR

12/03/18NO CHANGETarget $65PIPROverweight

Piper says buy Biohaven 'aggressively' after 'impressive' data

Biohaven Pharmaceutical (BHVN) this morning reported "impressive" topline data from the Phase III trial testing the Zydis orally dissolving tablet formulation of rimegepant, Piper Jaffray analyst Tyler Van Buren tells investors in a research note. The study not only achieved statistical significance on both co-primary endpoints, "but surprisingly" also demonstrated an "incredibly rapid" 15 minute onset of action, says the analyst. Further, he notes that Biohaven reported pooled safety data from what is now three Phase III rimegepant studies and that the candidate "continues to be safe and well tolerated" with no signal of liver toxicity. Van Buren believes the new data "definitely makes" rimegepant a superior product to Allergan's (AGN) ubrogepant and the "best-in-class" oral calcitonin gene-related peptide. He reiterates an Overweight rating on Biohaven with a $65 price target and recommends that investors buy the stock "aggressively."

Volume is above average for this time of day. Breadth is bullish across the board. Advancing Issues: 1902 / Declining Issues: 1157 -- for a ratio of 1.6 to 1. Advancing Volume: 1,164,790,000 / Declining Volume: 519,618,000 -- for a ratio of 2.2 to 1. New 52-Week Highs: 119 / New 52-Week Lows: 36.

Shares of financial stocks are not participating in Thursday's Fed-inspired rally. A concerned U.S. Federal Reserve Bank cut its forecasts for further interest rate increases from two to zero on Wednesday. Fed watchers interpreted the dovish Fed move on Wednesday as a signal of concern over U.S. growth prospects amid worries in Europe, and to some extent, China. YIELD CURVE NARROWS: As longer-term bond yields decline, the yield curve flattens due to the narrowing of the gap between yields on short-and long-term treasuries. Banks depend on profitability from lending at the long term rate and borrowing at the shorter term rate. The profitability of lenders typically declines with a flattening of the yield curve. "Yield curves are responding to what they see, to what I believe is a global economic slowdown," said Peter Boockvar, Chief Investment Officer at the Bleakley Advisory Group, on CNBC earlier. BANKS ARE KEY ECONOMIC INDICATOR: In an earlier Wall Street Journal article, Ed Cofrancesco, CEO of International Assets Advisory, said, "banks are key components to our economy, so much that if they don't do well, they're a drag on the market and the economy as a whole." Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), and Wells Fargo (WFC).

The Scotts Company and Major League Baseball announced that the Ohio-based company will remain the Official Lawn Care Company of Major League Baseball in a multi-year agreement. The renewal builds on the partnership that originally began in 2010, taking Scotts and MLB into a 10th season together. This is also the fourth season that Scotts is an official partner of MLB's PLAY BALL initiative, the league's collective effort to encourage young people and communities to engage in baseball- or softball-related activities, including formal leagues, special events and casual forms of play. As part of the extended sponsorship, Scotts and MLB will continue the Scotts Field Refurbishment Program where grants are awarded to youth-focused community organizations to give kids modern, playable ball fields. The Scotts Field Refurbishment Program is part of the company's larger Gro More Good initiative to connect children to more outdoor play opportunities by enhancing community greenspaces. "Memories are made outside, whether they're in a ballpark or in a backyard," said Josh Peoples, Senior Vice President, Brand Marketing, ScottsMiracle-Gro. "Connecting children with safe, quality places to play is a priority for Scotts and MLB continues to be a natural partner for us in this effort. Our long-standing relationship is rooted in community outreach and encouraging fans and families alike to engage and enjoy more moments outside."

Darden upgraded to Hold from Underperform at Gordon Haskett. Gordon Haskett analyst Jeff Farmer upgraded Darden (DRI) to Hold from Underperform, noting that the company and Bloomin' Brands (BLMN) are the only two casual dining companies over the last two quarters that have been able to convert same-store sales upside into upward revisions to consensus estimates for both earnings and margins, which is a dynamic he expects to continue into FY20. Farmer raised his FY19 and FY20 EPS estimates for Darden following the company's earnings report and increased his price target on the stock to $111 from $97.